Foxx Development Holdings Inc. (NASDAQ:FOXX) Short Interest Up 1,495.1% in June

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 79,645 shares, a growth of 1,495.1% from the May 31st total of 4,993 shares. Based on an average daily volume of 8,717,742 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.7% of the company’s stock are short sold.

Foxx Development Trading Up 9.3%

Shares of NASDAQ:FOXX traded up $0.28 during trading on Friday, hitting $3.30. 45,328 shares of the company were exchanged, compared to its average volume of 4,873,618. Foxx Development has a fifty-two week low of $1.71 and a fifty-two week high of $8.88. The stock has a market cap of $23.23 million, a price-to-earnings ratio of -0.48 and a beta of -0.31. The firm has a fifty day moving average price of $4.14 and a two-hundred day moving average price of $4.48.

Foxx Development (NASDAQ:FOXX) last released its quarterly earnings data on Wednesday, May 20th. The company reported ($5.19) EPS for the quarter. The firm had revenue of $8.67 million during the quarter.

Institutional Trading of Foxx Development

An institutional investor recently bought a new position in Foxx Development stock. Citadel Advisors LLC acquired a new position in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned about 0.18% of Foxx Development at the end of the most recent reporting period. 60.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Foxx Development from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Foxx Development currently has an average rating of “Sell”.

Foxx Development Company Profile

Foxx Development, Inc (NASDAQ: FOXX) operates as a contract manufacturer specializing in the design, assembly and distribution of medical devices and components. The company’s core business centers on phlebotomy and blood collection products, serving clinical laboratories, hospitals and diagnostic testing facilities. Its product portfolio includes evacuated blood collection tubes, safety-engineered winged blood collection sets, syringes and ancillary devices used in specimen collection and handling.

Founded in North Carolina, Foxx Development maintains a manufacturing and distribution campus in Apex, where it integrates engineering, quality control and regulatory compliance under one roof.